Is Selling Maverix Metals Inc Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling Maverix Metals Inc Here a Winning Strategy? The Stock Just Gapped Down

The stock of Maverix Metals Inc (CVE:MMX) gapped down by $0.05 today and has $0.91 target or 13.00% below today’s $1.05 share price. The 7 months technical chart setup indicates high risk for the $79.60M company. The gap down was reported on Nov, 8 by If the $0.91 price target is reached, the company will be worth $10.35 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 12,000 shares traded hands. Maverix Metals Inc (CVE:MMX) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.

More notable recent Maverix Metals Inc (CVE:MMX) news were published by: which released: “Maverix Metals Inc. Completes Acquisition of Royalty, Stream and Payment …” on July 11, 2016, also with their article: “Pan American Silver and MacMillan Minerals announce arrangement with Maverix …” published on April 19, 2016, published: “BRIEF-Pan American Silver and Macmillan Minerals announce arrangement with…” on April 19, 2016. More interesting news about Maverix Metals Inc (CVE:MMX) were released by: and their article: “Maverix Metals: New Gold Royalty Company’s Pullback Creates Buying Opportunity” published on July 21, 2016 as well as‘s news article titled: “IIROC Trade Resumption – Maverix Metals Inc.” with publication date: June 11, 2012.

Maverix Metals Inc, formerly MacMillan Minerals Inc, is a Canada company, which focuses on acquiring and holding metals streams and royalties. The company has a market cap of $79.60 million. The Firm focuses on various assets, including La Colorada Mine Gold Stream, San Jose Mine Net Smelter Return Royalty, Moose River Project NSR, Shalipayco Project NSR, La Bolsa Project Gold Stream, Calcatreu Project NSR, Tres Cruces Project NSR, Pico Machay Project NSR, Taviche Este Project NSR, Quiruvilca Mine NSR, Jojoba Project NSR, Queylus Project NSR and Maria Cecilia Project NSR. It currently has negative earnings. The Company’s exploration properties include Cerro de Oro Project, Las Cucharas Project, La Union Targets, Nuevo Cucharas Target and La Violetta Project.

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